British investment fund Gemcorp – seemingly an extremely respectable organization, whose board includes two lords from the government of Boris Johnson. However, in 2018 he participated in dubious negotiations on the sale of Russian weapons to Angola. The head of Gemcorp personally met with General Director of Rosoboronexportunder American sanctions, the possible allocation of a credit line of up to $1 billion by a British fund for the purchase of weapons. The Dossier Center found out the details of this meeting in a joint investigation with the Financial Times newspaper.
Russian trace in the British fund you don’t even need to look for it specifically: its original the investors were businessmen Albert Avdolyan and Sergey Adonyev. Gemcorp’s Moscow office was located in premises that belonged to structures associated with Avdolyan. This businessman called the “wallet” of Rostec head Sergei Chemezovand a Dossier source associated with the intelligence services spoke about Avdolyan’s family’s connections to drug trafficking in the Krasnodar region. It was not possible to find direct confirmation of this – except that the businessman’s father and brother had problems with drugs.
The British fund turned out to have quite a lot of intersections with the sanctioned Rostec. In particular, Avdolyan took a loan from Gemcorp structures during the purchase of the Yakut Fuel and Energy Company, four of whose directors were associated with Rostec. And Rosoboronexport itself, with whose management the fund’s leaders met in Angola, is part of the concern.
The arms trade is not just a commercial transaction, but part of Putin’s strategy to promote Russian interests in Africa. After the annexation of Crimea in 2014, Putin fell out with the Western world and looked for new allies, and guns are a good tool to make friends with African leadersemphasizes the Financial Times. All the more strange is the participation of a seemingly respectable British foundation in these games.
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American sanctions did not prevent the London fund from becoming interested in a loan for Russian weapons for Angola
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